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As to advertising, e.g. a banner advertisement in newspaper, to what extent does the MLO unique identifier number have to be displayed? – IBA Compliance Connection

As to advertising, e.g. a banner advertisement in newspaper, to what extent does the MLO unique identifier number have to be displayed?

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We do not believe that the mortgage loan originator’s unique identifier would have to be stated or printed in your advertisements. The SAFE Act regulations require that a mortgage loan originator (MLO) “provide his or her unique identifier to a consumer: (1) Upon request; (2) Before acting as a mortgage loan originator; and (3) Through the originator’s initial written communication with a consumer, if any, whether on paper or electronically.” 12 CFR 1007.105(b). As stated in the final rule’s publication, it was not intended to cover advertisements and other similar materials. 75 Fed. Reg. 44656, 44675 (July 28, 2010)

Furthermore, the Agencies intend [this rule] to cover written communication from the originator specifically for his or her customers, such as a commitment letter, good faith estimate or disclosure statement, and not written materials or promotional items distributed by the Agency-regulated institution for general use by its customers. While, this provision does not require institutions to include the unique identifier on loan program descriptions, advertisements, business cards, stationary, notepads, and other similar materials, institutions are not prohibited from doing so.